Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Farmers Estimates $600M in Losses from LA Wildfires
Feb 19 2025 // Farmers said on Wednesday that it expects losses from the Los Angeles wildfires last month to reach an estimated $600 million. Insurance companies have so far paid out more than $6.9 billion for losses from the biggest two...
Ex-PIMCO Executive to Run World’s First Catastrophe-Bond ETF
Feb 19 2025 // Catastrophe bonds, whose returns have consistently trounced those of high-yield debt markets in recent years, are about to become accessible to a wider group of investors. An exchange-traded fund based on a portfolio of as...
Scientists Racing to Discover Depth of Ocean Damage From LA Wildfires
Feb 19 2025 // On a recent Sunday, Tracy Quinn drove down the Pacific Coast Highway to assess damage wrought upon the coastline by the Palisades Fire. The water line was darkened by ash. Burnt remnants of washing machines and dryers and...
Trump’s Hiring Freeze Throws Wildfire Fighters Into Disarray
Feb 18 2025 // Federal firefighters have found their jobs on the chopping block as a result of US President Donald Trump’s executive orders, with a hiring freeze simultaneously blocking reinforcements in the aftermath of the Los...
Texas Braces for Freezing Weather With Wildfire and Flood Risks
Feb 18 2025 // Several varieties of extreme weather are forecast for Texas this week as state officials monitor rising wildfire risks in West Texas and possible flash flooding in East Texas before frigid cold settles in across the state...
California Wildfire Mitigation And Recovery Bill Package Introduced
Feb 14 2025 // California Insurance Commissioner Ricardo Lara and a group of state lawmakers are pushing a 10-bill legislative package designed to improve disaster preparedness and help protect wildfire survivors. The bills intended...
North Carolina Lawmakers Amend Hurricane Helene Recovery Measure
Feb 14 2025 // RALEIGH, N.C. (AP) — North Carolina House members advanced Wednesday a Republican package to boost state recovery funding after Hurricane Helene as committees fleshed out details on how best to spend another $500 million...
Insurers Have Now Paid Out Nearly $7B for LA Wildfires, Report Shows
Feb 13 2025 // Insurance companies have so far paid out more than $6.9 billion for losses from the biggest two of the Los Angeles-area wildfires that swept through the region and destroyed tens of thousands of homes last...
Mercury Expects to Lose $1.6B to $2B From LA Wildfires
Feb 13 2025 // Although Mercury Insurance Group expects gross losses from the 2025 California wildfires in the $1.6 billion-$2.0 billion range, potential subrogation and reinsurance recoveries will drop the ultimate bill down to $325...
Update: FEMA to Borrow $2B to Pay Flood Claims After Hurricanes Helene and Milton
Feb 13 2025 // The Federal Emergency Management Agency said it needs to borrow $2 billion from the U.S. Treasury to cover claims from National Flood Insurance Program policyholders. FEMA, administrator of NFIP, said it expects to pay out...
Insured Losses From Calgary Hailstorm Reach C$3.25B as 2nd Costliest Canada Disaster
Feb 12 2025 // The tally for Calgary’s record-breaking hailstorm last August continues to rise, with total insured losses now estimated to be C$3.25 billion (US$2.2 billion), according to the Insurance Bureau of Canada, quoting...
Edison Utility Faces Shareholder Lawsuit Over LA Wildfires
Feb 12 2025 // The parent company of Southern California Edison has been sued for allegedly defrauding shareholders before the recent Los Angeles-area wildfires by assuring them it could shut down power lines to reduce the risk of...
Whitewater Rafting Businesses Face Uncertain Future After Hurricane Helene
Feb 12 2025 // ERWIN, Tenn. (AP) — After 24 years of guiding whitewater trips on the Nolichucky River Gorge for other companies, Patrick Mannion finally received a permit last year to operate his own outfitter business. But following...
Hawaiian Electric Welcomes Top Court’s Ruling on $4B Wildfire Settlement
Feb 12 2025 // Utility company Hawaiian Electric on Tuesday welcomed the Hawaii Supreme Court’s decision towards finalizing the more than $4 billion settlement related to the 2023 Maui wildfires saying it was favorable to the...
WDIS Launches Wildfire Only Coverage for E&S Commercial Property in California
Feb 12 2025 // Wildfire Defense Insurance Services Inc. has launched wildfire only coverage for E&S commercial property in California. The product is available for a range of commercial property classes of business. The target class...
AIG Q4 General Insurance Underwriting Income Down 29% on Catastrophes
Feb 12 2025 // American International Group reported fourth quarter 2024 net income of $898 million compared to $86 million the prior year, but insurance underwriting income was down 29% on high catastrophe losses. AIG said the dramatic...
California Approves FAIR Plan Request to Assess Insurers $1B for Wildfire Claims
Feb 11 2025 // California Insurance Commissioner Ricardo Lara approved a California FAIR Plan request for a $1 billion assessment on admitted market insurers to cover claims from the Los Angeles wildfires. The FAIR Plan reported it has...
Travelers Expecting $1.7 Billion in Catastrophe Losses From LA Wildfires
Feb 11 2025 // Another major California insurer is reporting losses in excess of $1 billion from the Los Angeles area wildfires. The Travelers Companies Inc. announced Tuesday it will lose an estimated $1.7 billion from last...
What’s Tying Up $4B Settlement for Hawaii Wildfire Victims
Feb 11 2025 // Hawaii’s Supreme Court heard arguments last week over insurance issues that are tying up a potential $4 billion settlement over Maui’s catastrophic 2023 wildfire, the deadliest in the U.S. in more than a...
Tornadoes Kill 2, Injure 3 in East Tennessee, With Flooding in WV, Kentucky
Feb 10 2025 // WARTBURG, Tenn. (AP) — Two tornadoes moved through eastern Tennessee, leaving a mother and daughter dead and injuring three other people, officials said Friday. A mother and daughter from the same household were killed...
